Puerto Rico

Two contracts worth $1.8 billion were improperly awarded to Cobra for its work restoring electricity, the U.S. Attorney's office said.

Bond insurers National and Syncora agreed to back the Puerto Rico utility's restructuring plan, bringing support to more than 90%.

The unsecured creditors want to prevent GDB successors from making $578 million of claims against central government.

The mediation, initiated six weeks ago to resolve disputes over almost $25 billion of bonds, has yet to address the core issue of legality of some of the debt, according to a bondholder familiar with the process.

The Puerto Rico Oversight Board may have a stronger case to declare bonds invalid than the Illinois litigants did.

U.S. Court of Claims Judge Richard Hertling said Tuesday he would issue the stay because he expects key rulings by the Supreme Court and an appellate court.

Judge Laura Taylor Swain sided with the Oversight Board as it sues the local government to comply with its fiscal plans.

The last full trading week ahead of the Labor Day holiday will see a variety of credits come to market.

CDBG mitigation is a new program to support communities for events that are likely to occur rather than recovery from events that have already occurred. Some disaster recovery funds have been used in the past for mitigation.

She also names Elí Díaz Atienza to fill the role as her representative to the Oversight Board.